Market Analysis Today
Mar 05 2024Stock to buy Today
🔸 Tata Motors
The company has approved a proposal to split the company into two separate listed entities for passenger and commercial vehicles as it looks to boost growth and improve accountability.
🔸 PVR Inox Ltd
The company opening of 6 screen cinema located at the Mall of Faridabad, Haryana
🔸 Sarda Energy
The Company has incorporated a Joint Venture subsidiary company “Bartunga Coal Private Limited” on 2nd March 2024
🔸 Garden Reach Shipbuilders & Engineers Ltd
The Company has signed a MoU with Indian Register of Shipping (IRS) to develop Green Energy and Autonomous Vessels
Stocks in News Today
🔸 IIFL Finance
The RBI has directed the company to cease and desist from disbursing gold loans with immediate effect. However, the company can continue servicing its existing loans.
🔸 SBI
The public sector bank has filed a plea before the Supreme Court seeking an extension of its March 6 deadline to furnish data pertaining to the electoral bonds scheme.
🔸 Macrotech Developers
The company has launched its qualified institutional placement to raise Rs 3,300 crore
Stocks in Focus Today ( Stocks for Intraday Trading)
🔸 Tanla Platforms
The company announced the launch of messaging as a platform for telcos to support Google Rich Business Messaging
🔸 LTIMindtree
The company`s product division, Fosfor, announced the launch of the Fosfor Decision Cloud
🔸 NBCC
The company’s unit received an order worth Rs 92 crore from the PGIMER, Chandigarh
🔸 Krishna Institute of Medical Sciences
The company will establish a new 300-bed multi-specialty hospital in Thane, Mumbai with an investment of approximately Rs 500 crore
Securities in Ban For Trade Date 05-MAR-2024:
1 ZEEL
Market Action – Tuesday, March 5th 2024**
# Wall Street struggles to gain traction in Monday’s trade as investors look ahead to Fed Chair Jerome Powell’s appearance before the Congress this Wednesday and Thursday where the Fed chief will be grilled on the economic outlook, especially on the inflation front which is not cooling as rapidly as investors had hoped.
As for now, the street is anticipating for a US rate cut only start to heighten moving closer to May and significantly by June.
GIFT Nifty in early action is indicating a pause and that’s quite understandable after such a magnificent run.
GLOBAL UPDATE:
GIFT Nifty (-23, 22474)
Dow Future (-49, 38941)
Nikkei (-190, 39912)
Hang Seng (-252, 16344)
Dow Jones (-98, 38990)
Nasdaq (-67, 16208)
Bovespa (-840, 128341).
WHAT EXACTLY HAPPENED AT WALL STREET IN YESTERDAY’S TRADE:
# US stocks were seen hitting pause button in Monday’s trade as denting sentiments were Apple’s stock price which dropped 2.5% to $175.50.
The iPhone maker lost $70 billion in market capitalization after the European Union slapped it with a $2 billion antitrust fine for thwarting competition from music streaming rivals through restrictions on its App Store.
# On the positive side were Nvidia shares which rose 3.6% in Monday’s trade, while Super Micro Computer stock surged 19%.
Both firms have benefited from demand from artificial intelligence startups.
# The 10-year Treasury yield was up to 4.228%.
# WTI crude oil prices is seen trading firm at $78.75 per barrel.
# COMEX Gold is trading at its multi-month highest around $2,115 as investors grow bullish after last week’s weak inflation and economic activity figures from the US.